RTE on the verge

Could we have a case of a large state broadcaster going bump?

The Independent.ie reports that Ireland's RTE is on the brink of going bankrupt.The paper reports that

RTE is losing €1m a week and will not be able to pay staff by October unless a programme of salary cuts and redundancies is implemented in the coming weeks.

and it's losses are almost twice as high as previously budgeted.

It is currently trying to negotiate pay cuts of 12 per cent for its staff and a spokesman for the company told the paper that

"We need to claw back €68m. It poses a significant cash crisis for RTE. Otherwise the station will be in serious financial difficulty."

Ht-Adrian Monck